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- Match (by letter) the following terms with their definitions. Each letter is used only once.Terms _____ 1. Publicly held corporation. _____ 2. Organization chart. _____ 3. Articles of incorporation. _____ 4. Limited liability. _____ 5. Initial public offering. _____ 6. Double taxation. _____ 7. S corporation. _____ 8. Limited liability company. Definitions a. Shareholders can lose no more than the amount they invest in the company. b. Corporate earnings are taxed twice—at the corporate level and individual shareholder level. c. Like an S corporation, but there are no limitations on the number of owners as in an S corporation. d. Traces the line of authority within the corporation. e. Allows for legal treatment as a corporation, but tax treatment as a partnership. f. Has stock traded on a stock exchange such as the New York Stock Exchange (NYSE). g. The first time a corporation issues stock to the public. h. Describes (a) the nature of the firm’s business activities, (b) the shares to…Stockholder X attended the meeting of Greenville Corporation, where there was an amendment of increasing the capital stock of the company to P 20,000,000.00. The corporation agreed that the stocks to be issued on this increase of capital will be used to pay of its debt to BDO Finance and Leasing. The majority Board of Directors approved that the preemptive right of the stockholders will be denied and a 2/3 votes of the outstanding capital stocks was attained. You objected and did not vote to this corporate action and you decided to withdraw from the corporation. If you are the financial adviser of X, what will be your advice and the procedure to be undertaken in order that he can get back his money.PT A owns 40% ordinary shares of PT B and is exposed to variable returns from its involvement in PT B. The remaining 60% of PT B’s shares are owned by hundreds of unrelated shareholders and none own more than 5% individually. There are no arrangements for shareholders to consult with one another and experience shows that only a few shareholders exercised their voting rights at all. The relevant activities of PT B are directed by the voting rights granted through the common shares. Required: 1. In the above situation, does PT A control PT B? Please explain and give reasons. 2. Would your answer be the same if the remaining 60% of PT B’s shares are owned by 2 investors each 27% and 3 other investors each 2%? Please explain.
- Prosperity Company holds 40% of the voting rights of MNO Co. The remaining shares was held by thousands of shareholders, each hold less than 1% of the voting rights. None of the shareholders has contractual arrangement to consult any of the others or make collective decisions. Which of the following is true regarding the above situation? (Select the best answer) Group of answer choices A.Prosperity does not power over MNO because it holds only protective right. B.Prosperity has power over MNO Co. because Prosperity owns the highest percentage of shares. C.The 40% interest above is presumed to have a de-facto control over MNO Co. because of the relative dispersion of other shares. D.Prosperity does not have power over MNO Co. because its holding is not sufficient rights to give power.S1 When a corporation reacquired its own share due to delinquency and no bidders, the share must be retired immediately. S2 An ordinary shareholder receives, the same privileges and rights as preference shareholders. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false S1 A subscriptions receivable that are collectible within one year is part of shareholders equity. S2 Par value equity shares should not be issued for a consideration below P5.00 per share. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false1. Examine the process of liquidating a public company 2, Explain at least five (5) reasons why aconvertible preference shareholder will decide to convert the sharesinto equity shares.
- 6. These give the holders the privilege to purchase shares of stocks at a price lower than the prevailing market price of the shares upon the issuance of new shares. 7. The difference of if the issue price is less than the par or stated value of the share. 8. A corporation which has no share capital and where no part of its income is distributable as dividends to its members. 9. A private corporation tasked by the government to provide public service. 10. The SEC issues the certificate of incorporation after this document is filed and duly approved.Dragon, Owl, Quaker and Wildcat Corporations each have only one class of outstanding stock. Alice, John, George and Hillary are four unrelated individuals. Below is a table indicating the ownership percentages in the corporations.CorporationsDragon Owl Quaker WildcatOwnersAlice 30 50 5 30John 10 10 10 20George 10 10 10 40Hillary 10 20 0 5Dragon, Inc. 0 10 80 5Determine which corporations are members of a controlled group(s) and which kind(s)A, B, C, D and E is organizing a corporation whose Authorized Capital Stock is 64,000 with par value of P50. How much is the minimum paid-up capital requirement under the Revised Corporation Code for the corporation to incorporate?
